Ether.fi
TEMPEREDLiquid Restaking · Ethereum · $5B+ TVL · 10 contracts
Confidence 83%Z-Factor 0.68Updated 2026-05-17Public Score
Public risk assessment — scores are produced with the same methodology as monitored protocols
722
BRI Score
3004756508251000
Security Profile
Access Control
62
62
Economic Soundness
75
75
Oracle Integrity
72
72
Compositional Risk
58
58
Governance
48
48
Resilience
78
78
Op Security
65
65
Cascade Exposure
45
45
Access Ctrl
62
62
Economic
75
75
Oracle
72
72
Compos.
58
58
Govern.
48
48
Resilience
78
78
OpSec
65
65
Cascade
45
45
Min
45
Avg
63
Max
78
Audit History
Certora (Formal)
2024-01
Omniscia
2023-12
Code4rena
2024-02
Bug Bounty Program
$250,000
Max payout on Immunefi
Assessment
Largest liquid restaking protocol. Clean track record (no exploit, no depeg). But: full EigenLayer compositional exposure, governance centralization, no timelock on upgrades. Fork validation confirmed 8/8 findings as false positives, indicating strong runtime defense not captured by static graph.
Dimension Breakdown
How scores work →Access Control
Weight 23%80% conf
62
arrow_forwardModerate
+1218 permissionless state-mutating functions out of 75 external
+12roleRegistry.hasRole() provides runtime defense invisible to static analysis
+128/8 fork-validated redemption chains are HONEST_NEGATIVE (safeTransferFrom msg.sender pattern)
+12Lone-sink heuristic false positives inflate raw cell count
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Compositional Risk
Weight 18%82% conf
58
arrow_forwardModerate
-28Inherits ALL EigenLayer compositional risk (slashing, restaking, AVS)
+15weETH widely integrated: Aave, Morpho, Pendle, Compound
+15Largest liquid restaking by TVL (~$6B+) = maximum cascade exposure
-28Cross-protocol liquidation cascades are primary systemic risk
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Adversarial Resiliencelock
Weight 18%85% conf
78
Good
- Pause mechanism (pauseContract/unPauseContract) gated by roleRegistry roles
- UUPS upgrade protected by _authorizeUpgrade with owner check
- Multiple audit rounds: Omniscia, Certora, Zellic
- 30+ months mainnet without exploit (since Nov 2023)
Economic Soundness
Weight 12%80% conf
75
arrow_forwardGood
+1956 permissionless entries, 19 admin-gated (1_key)
+19True attack surface is 18 permissionless state-mutating functions
+19Key entry points: deposit, withdraw, requestWithdraw, rebase, burnEEthShares
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Oracle Integrity
Weight 12%78% conf
72
arrow_forwardGood
+16Pause mechanism (pauseContract/unPauseContract) gated by roleRegistry roles
+16UUPS upgrade protected by _authorizeUpgrade with owner check
+16Multiple audit rounds: Omniscia, Certora, Zellic
+1630+ months mainnet without exploit (since Nov 2023)
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Governance & Upgradeability
Weight 12%72% conf
48
arrow_forwardConcerning
+18Internal rate oracle: (totalValueInLp + totalValueOutOfLp) / totalShares
+18amountForShare() and sharesForAmount() are core conversion functions
+18Chainlink integration for DeFi composition pricing
-28No external oracle manipulation surface detected in graph
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Operational Security
Weight 12%60% conf
65
arrow_forwardModerate
-9No branch protection detected
-9CI/CD present but unstable (60% success)
+16Commit signing: 98% verified
+16Strong PR review culture (83% reviewed)
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Cascade Exposure
Weight 6%75% conf
45
arrow_forwardConcerning
- Inherits ALL EigenLayer compositional risk (slashing, restaking, AVS)
- weETH widely integrated: Aave, Morpho, Pendle, Compound
- Largest liquid restaking by TVL (~$6B+) = maximum cascade exposure
- Cross-protocol liquidation cascades are primary systemic risk
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Additional Dimensions
Battle-Tested Maturity
Weight conditional0% conf
-1
arrow_forwardCritical
+16ETHFI token governance exists but team retains significant operational control
+16roleRegistry manages LIQUIDITY_POOL_ADMIN_ROLE, VALIDATOR_APPROVER/CREATOR roles
+16admins/pausers mappings are team-managed
-52Governance participation is low relative to TVL
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Supply Chain
Weight conditional0% conf
-1
arrow_forwardCritical
+25SMDE: 0 anomalies, 0 novel classes, 0 clusters
-12Game theory: IRRATIONAL equilibrium (no profitable deviation)
-12Standard DeFi state patterns, no exotic state mutations
+25DEPRECATED_ prefix on 14 functions indicates clean upgrade history
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Risk Drivers
Primary risk factors driving this score, ordered by severity.
Cascade Exposure45
Governance & Upgradeability48
Compositional Risk58
Adversarial Risk Signals
Observable security posture indicators. These signals reflect publicly verifiable information and responsible disclosure outcomes. No specific vulnerability details are exposed.
Disclosure HistoryNot Assessed
Remediation VelocityNot Assessed
Bug Bounty ProgramNot Assessed
Audit CoverageNot Assessed
Incident HistoryNot Assessed
Score History & Verification
Score provenance tracking begins with the next reassessment.
On-Chain Data
- Protocol Slug
- "etherfi"
- Oracle
- BRORegistry (Base)
- Evidence
- IPFS (pinned)
- Staleness Threshold
- 24 hours
Read Score
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